- ES is testing the neckline of the head and shoulders we have been monitoring.
- A potential long trade we could take that has an attractive risk-reward ratio.
- Trader mindset announcement.
There has been very little change in many of the markets recently regarding our technicals, but we can focus on ES since there is a potential trade.
We looked at the head and shoulders pattern last week, signaling that there is a chance the neckline could be tested again. Price has recently bounced off that neckline, providing us with a long opportunity.
Traders could take longs at current prices, set stops at $3,937 with a target at $4,164.75, and then potentially higher. Take a look at the previous analysis to get a full view of the head and shoulders.
The attractive feature of this trade is the risk-reward ratio that it could potentially turn into. That being said, it all hinges on whether the neckline is going to hold. The probabilities of success are not the greatest, but sometimes even a 50/50 is fine to take if the risk-reward is attractive enough.
Announcement about trader mindset
Soon, we will be launching something called ‘trader mindset.’ It’s a series of 1 on 1 sessions traders can book to have with Jay.
In these sessions, we are going to focus 80% of our attention on mindset and 20% on the practical elements required in trading and markets. We are going to look at your schedule, personality, and trading philosophy to begin building a solid plan you can rely on. We will not cover trading strategies in these sessions nor technical patterns or setups. I am simply here to help you understand the best path forward toward achieving trading success. I am here to support you. We will be releasing a video soon with more details.
Topics we will discuss include:
- Objective trading vs. subjective trading
- Developing an actual plan and something that you can trust
- ‘Importance’ as a major factor in why failure arises and how to release it
- The ego and its role in trading decisions
- How you can make trading easy
- How to make the choice that successful trading is what you actually want
- Vital exercises to improve your trading ability and decision making
- Why your expectations on the outcome are the reason things don’t work out
- All major athletes need coaches. Trading is no different
- How to think in probabilities
If this is something that interests you and would like to be added to the list for a free session once rolled out, please add me on discord here Jay-OUP#6138, or send me an email at email@example.com